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According to the results of the Wholesale and Retail Trade Survey, the main figures in the commercial sector in 2022 recorded a positive growth rate compared to 2021.
In particular, turnover in the broader commercial sector increased by 20.7% in 2022 to €17,618.2 million compared to €14,598.3 million in 2021. By industry, turnover in wholesale and retail trade and repair of motor vehicles and motorcycles increased by 17.9% to €1,220.9 million, in wholesale trade by 28.7% to €9,073.0 million and in retail trade by 12.5% to €7,324.3 million.
The production value of the sector reached €4,577.6 million in 2022, an increase of 16.8% compared to 2021.
In the commercial sector as a whole, value added at current prices increased by 14.9% to €2,891.2 million in 2022 from €2,517.2 million in 2021. In wholesale and retail trade and repair of motor vehicles and motorcycles, value added increased by 20.6% to €263.5 million, in wholesale trade increased by 19.2% to €1,412.6 million and in retail trade increased by 9.1% to €1,215.1 million.
Employment in the sector increased by 3.2% in 2022 to 75.8 thousand from 73.5 thousand in 2021. Trade and repair of motor vehicles and motorcycles employed 9.3 thousand people, wholesale trade 25.8 thousand and retail trade 40.7 thousand people.
| Table | |
| NACE Avаθ. 2 |
Economic Activity |
[TD]
Main aggregates 2022
[/TD][TR] [TD]
Cycle Business
[/TD] [/TD] [TD]
Value Added at Current Prices
[/TD] [TD]Employment
[/TD] [/TR] [TR] [TD]€m.
[/TD] [TD]%*
[/TD] [TD]€m.
[/TD] [TD]%*
[/TD] [TD]Number
[/TD] [TD]%*
[/TD] [/TR] [TR] [TD]G
[/TD] [TD]Wholesale and Retail, Repair of motor vehicles and motorcycles
[/TD] [/TD] [TD]17.618.2
[/TD] [TD]20.7
[/TD] [TD]2.891.2
[/TD] [TD]14.9
[/TD] [TD]75.841
[/TD] [TD]3.2
[/TD] [/TR] [TR] [TD]45
[/TD] [TD]Wholesale and retail trade and repair of motor vehicles and motorcycles
[/TD] [TD]1.220,9
[/TD] [TD]17,9
[/TD] [TD]263,5
[/TD] [TD]20,6
[/TD] [TD]9.287
[/TD] [TD]1,8
[/TD] [/TR] [TR] [TD]46
[/TD] [TD]Wholesale trade, except of motor vehicles and motorcycles
[/TD] [/TD] [TD]9.073.0
[/TD] [TD]28.7
[/TD] [TD]1,412.6
[/TD] [TD]19.2
[/TD] [TD]25.820
[/TD] [TD]3.2
[/TD] [/TR] [TR] [TD]47
[/TD] [TD]Retail trade, except of motor vehicles and motorcycles
[/TD] [/TD] [TD]7.324.3
[/TD] [TD]12.5
[/TD] [TD]1,215.1
[/TD] [TD]9.1
[/TD] [TD]40.734
[/TD] [TD]3.5
[/TD] [/TR] [TR] [TD]*Annual percentage change in 2022 compared to 2021.
[/TD] [/TR] [/TR]
Methodological Information
Definitions
Turnover - Includes all revenues generated during the reporting period in the ordinary activities of an enterprise. It is presented net of all price reductions and discounts granted by the particular enterprise.
Production value - Obtained after adding to turnover other income and any changes in the value of stocks at the end of the year and deducting the value of goods purchased for resale.
Value added at current prices - This is obtained by deducting from the production value the total expenditure on production costs, administrative costs and rents paid for buildings and machinery.
Employment - The sum of the number of employees and self-employed persons.
Coverage and Data Collection
The Wholesale and Retail Trade Survey covers a sample of approximately 2 250 enterprises whose main activity falls within Division G of the NACE Rev. 2 of the European Union's classification of economic activities NACE Revision 2, namely Classes 45 (wholesale and retail trade and repair of motor vehicles and motorcycles), 46 (wholesale trade, except of motor vehicles and motorcycles) and 47 (retail trade, except of motor vehicles and motorcycles).
Data are collected by the Statistical Office by telephone interviews, by e-mail, by personal interviews in enterprises and by using administrative sources.
For more information, interested parties can visit the Statistical Service Portal, under Wholesale and Retail Trade, Predefined Tables (Excel), Methodological Information or contact Ms. Constantia Sergidi by phone at 22602237 or by email at ksergidi@cystat.mof.gov.cy.
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Views & opinions expressed are those of the author and/or PIO
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